Executive in Charge of Luxury Auto Production Resigns Suddenly

Top Daimler AG executive Andreas Renschler, who ran Mercedes-Benz production and sat on the company's management board, resigned on Tuesday, saying he would have to wait too long for a shot to become chief executive.

Mr. Renschler's departure came as a surprise, people familiar with the situation said. Mr. Renschler, 55, has worked for Daimler since 1988 and was on a short list of internal candidates considered contenders to succeed...